Answer:
$147,400
Explanation:
The computation of the cost of goods manufactured is shown below:
= Direct materials used + Direct labor cost + Manufacturing overhead cost + beginning work-in-process inventory - ending work-in-process inventory
= $56,400 + $30,100 + $52,400 + $29,000 - $20,500
= $147,400
We considered the applied manufacturing overhead cost instead of actual manufacturing cost
Answer:
Mr. Benjamin has invested total php 750,000 in Salgado and Delgado construction corporation.
Explanation:
The investment made by Mr. Benjamin in cash and as an equipment both will be considered as investment made in the company. The percentage of stake will be calculated by considering both forms of investments. Mr. Benjamin will have controlling stake in Salgado and Delgado corporation. The company can receive dividends according to percentage of stake declared by the company.
No, because the date is there to help you stay on track
Answer:
The corrected Net income = $54,500
Explanation:
Net income is defined as the total profits earned by an individual from a business venture. It is equal to the difference between the gross income and the expenses involved including cost of supplies and accrued salaries.
Given: net income = $58,000
Entries not made include supplies expense = $2,200 and accrued salaries = $1,300
Therefore, the corrected net income = net income - expenses = $58,000 - ($2,200 + $1,300) = $54,500
